India Art Market Report – March 2016

Published

No. Pages

11

Report Type

Market Report

The India art market gains global market share: With US & European and Chinese art market showing a decline in auction sales in 2015. Additionally, the overall Indian Modern & Contemporary art market saw a 36% increase in sales in 2015 (based on results from Sotheby’s, Christie’s, Bonhams, Pundoles, Saffronart and AstaGuru). Indeed, India’s market share among emerging art markets has increased from 10% in 2014 to 15% in 2015.

Domestic India auction market is set to grow in 2016. Whilst New York and London used to dominate the Indian Modern and Contemporary sales, there has been a clear shift towards auctions held in India in the last 3 years, with Saffronart and Pundole strengthening their market position in 2015.

Report content:

Market Outlook 2016

Domestic vs International auction sales

Market share by auction house

Top 3: Auction House analysis

India Art Market Confidence

Risk and Speculation Barometers

Modern & Contemporary Indian Artist Confidence Ranking

Domestic sales (auction sales taking place in India) accounted for 61% of the overall total, up from 55% in 2014 and 46% in 2013. The growth is led by Pundole and Saffronart, where both auction houses have experienced strong growth during 2015